Health insurer nib buys New Zealand-base insurance firm

Kiwi Insurance Limited was bought for a total consideration of NZ$45m.

The Australian health insurer nib has announced that its New Zealand subsidiary has bought the state-owned insurance firm Kiwi Insurance Limited, part of the Kiwi Group, for NZ$45m ($32.19m).

Under the transaction, nib will acquire Kiwi Insurance Limited and will also enter an exclusive relationship with Kiwibank (a wholly owned subsidiary of Kiwi Group Holdings Limited) which will see the bank refer its retail customers to nib for their life and living insurance needs.

According to nib, Kiwi Insurance policyholders don’t need to do anything and will see no change to their current policies as a result of the sale. The staff at Kiwi Insurance is expected to remain business as usual.

The acquisition is expected to be completed by early 2022, subject to regulatory approvals.

Follow the link s for more news on

Kiwi Insurance

nib

nib buys Kiwi Insurance for NZ$45m

Also Read

MS&AD to merge Mitsui Sumitomo, Aioi Nissay Dowa by April 2027

Peak Re obtains reinsurance branch license to operate in India’s GIFT IFSC

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit